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David Joos

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The non-cash MCV impairment charge overshadows the fact that Consumers Energy and CMS Enterprises turned in strong operational performances in 2005. For example, the utility met record customer demand for electricity in Michigan last summer. Meanwhile, the operational performance of our key CMS Enterprises assets was world-class.

The non-cash MCV impairment charge overshadows the fact that Consumers Energy and CMS Enterprises turned in strong operational performances in 2005. For example, the utility met record customer demand for electricity in Michigan last summer. Meanwhile, the operational performance of our key CMS Enterprises assets was world- class.

The weather and high natural gas prices have been challenging. However, operating performance continues to be strong, and we continue to make progress on our plan.

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